Hi guys. Can I check my understanding/the implications of this funding deal.
It seems that none of the money needs to be returned to Carlyle unless they actually get through phase 3 and start selling their drug. Then it caps out at 4 times the funded amount i.e. 480-640 US million. Implication is that Carlyle must think there is a Greater then 25% chance of getting 4x their money back, probably with a good margin of safety as well, otherwise they wouldn't have agreed to this funding deal, because they risk throwing $120 million down the toilet. Am I correct in this reading of the deal?
Ann: Opthea secures up to US$170m in non-dilutive financing, page-18
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